Goldman Sachs revises gold price forecast for 2025

The price of gold will reach the top of the charts every month in 2024 and reach new all-time highs. The XAU/USD index, which tracks the performance of gold, shows the precious metal trading at the $2,640 level. It is close to its ATH of $2,685 and is preparing to climb above the $2,700 level.

Bullish sentiment remains intact; A further increase could take it towards the $2,700 price range. Due to the positive sentiment, leading investment bank Goldman Sachs has revised its price forecast for gold.

Also Read: VeChain (VET) Price Prediction Mid-October 2024

Goldman Sachs is bullish on gold, estimating that it could continue to hit new all-time highs by the end of 2024. The investment bank has issued a new forecast for 2025 and is now taking an entry-level position that could be profitable in the next few months. This article looks at what the price of gold could be next year in 2025.

Also read: Malaysia’s national currency, the ringgit, is outperforming the US dollar

Goldman Sachs predicts gold prices for 2025: a bullish divergence is in sight

Commodity analysts at Goldman Sachs expect gold prices to briefly hover around $3,000 in 2025. According to the price forecast, gold could reach a new high of $2,973 by 2025, as predicted by Goldman Sachs. “We reiterate our long recommendation on gold due to the gradual recovery from lower global interest rates, structurally higher central bank demand and gold’s hedging benefits against geopolitical, financial and recessionary risks.” the analysts explained.

Also Read: BRICS: India makes important announcement on use of US dollar

Although the prediction is for $3,000, once it hits $2,973 it won’t take long to reach the target. That’s an increase and return on investment (ROI) of approximately 12.5% ​​from the current price of $2,640. Therefore, a $1,000 investment today could turn into $1,125 in 2025 if the forecast is correct. It could be one of the top winners in the commodity markets.